The Consumer Financial Protection Bureau (CFPB) officially commented on a proposal that will take direct action against No-Action Letters. The policy is designed to go after new financial products or financial services that promise to bring substantial benefits to consumers, but that are still a bit uncertain how regulatory or statutory provisions will be applied in the near future. The documents on this proposed policy are set to be released to the public on December 15, 2014.

Bringing up No-Action Letters reminds some of the SEC No-Action Letters which usually involve scenarios where the requester is not sure whether or not a particular financial service or product is in violation of existing federal security laws. In the letters that were released, SEC employees agreed not to ask for a legal action to be taken against the requester because of the facts that were presented. An alternative that exists is for SEC staff to draft a letter to bring clarity about a specific regulation or rule.

The CFPB No-Action Letters bare similarities to the SEC Letters. These letters would inform the business requesters that their staff is not going to recommend enforcement action due to specific aspects of a known legal requirement or policy. However, the CFPB No-Action Letters Policy is different from the SEC’s in that it only applies to financial products that are offered to the general consumer market, or for financial services which have no existing legal uncertainty.

By limiting the CFPB No-Action Letter Policy to only consumer-related products and services, the Bureau is able to remain consistent with how it interprets that Title X of the famous Dodd-Frank Consumer Protection Act of 2010, which provides governance for the CFPB, is intended to be helpful to consumers and to provide all consumers with access to transparent, fair, innovative financial markets. Additionally, the CFPB is bound to a statutory mandate that promises to promote and facilitate innovation and access in the market for consumer financial services and products.

To meet this goal, the CFPB created an innovative project called “Project Catalyst” in the fall of 2012. This project will support financial innovators that create consumer friendly financial products and services. The No-Action Letter Policy is quite simply the most recent module of Project Catalyst to be put into action.

Consumer friendly financial products and services can get assistance from the CFPB No-Action Letters. Recent consumer spending in the U.S. led to recent financial difficulties, although more complex financial institutions and high dollar deals greatly increased the financial woes of recent years. Quite a bit of effort has been put in to deal with more sophisticated financial businesses during the financial recovery that has been underway for the past few years. And while all of this has been underway, less attention has been focused on underbanked, unbanked and very low income communities around the country; not to mention consumers who may currently use traditional bank accounts but also use non-traditional payment methods too.

Not too long ago, the CFPB began to take steps to bring these sectors to the attention of the rest of the country when it began in inquiry into mobile financial solutions. The Bureau found that nearly 90 percent of United States consumers own cell phones and that this growing trend has led to a whole plethora of new mobile payment solutions that allow unbanked and underbanked households to take more control of their individual finances. We will all have to keep our eyes open to see whether or not these new mobile payment solutions continue to warrant scrutiny from the CFPB and to see how the No-Action Letters pan out for new financial services that are launched in the months and years to come.

Every day we see that people post questions and concerns about getting a cash loan online at various websites and on popular financial forums. We know that it’s important for you to not only understand the process involved with getting an online cash loan, but also to feel comfortable during the online borrowing process. We consider it our duty, then, to help clear the air about online payday cash advance loans for you here.

As you continue to read every word of this article you’ll find out some information that should prove helpful to you when you run low on cash and need a quick loan to get your bank account out of the red and into the black.

It’s Never Fun to Run Out of Money

Let’s be totally honest here, none of us looks forward to seeing our bank accounts and discovering that we don’t have much – if any – money left over after paying the bills. As unfortunate as that feeling is, though, people deal with this cold, hard truth every day. When you only get paid every other week or so on the job, it’s very easy for your checking or savings account to dwindle down to next to nothing.

Those bills have a way of rolling in even faster when you’re already broke, don’t they? This just adds to the frustration and stress, leaving many people feeling like they don’t have a chance to stay out of debt or to pay their bills and expenses on time. However, a quick cash loan via one of the top payday lending companies can help to offset some of those all-too-common financial hardships.

Is a Payday Loan What You Need?

Before you actually pursue an online loan, you should stop to consider if a payday cash advance loan is what you need. If you’re in serious financial trouble, to the tune of tens of thousands of dollars in debt that needs to be paid right now, you might find that an online payday advance cash loan isn’t your best alternative. However, if you just need a few hundred dollars to pay bills or to pick up some groceries, you can most definitely count on a fast payday cash loan to help out.

Should You Read Cash Loan Review Articles?online reviews

When you are shopping around for the best online payday loan, you may be tempted to check out some online customer reviews. We have to advise you, however, that you may find that some of the reviews posted online these days leave a bit to be desired. You may find that some reviews are misleading, some don’t give you the information you need, and some are designed to just get you to click on advertisements.

Instead of wasting time reading those types of reviews, you can get fast access to the most respected payday lenders via this helpful website. Submit a loan application here, and you’ll be well on the way to receiving your quick cash loan.

Payday Loans Online – How Much Can You Borrow?

Online payday cash advance lenders typically pay out loans that range from $100 to $1500. You should carefully consider how much you can pay back when you receive your next pay check. It might be helpful to take a quick look at your budget just to make sure you borrow appropriately.

What is an Unsecured Loan?

If you hear mention of unsecured loans and wonder just what that means, we have your back. You see, unsecured loans are just loans that don’t require the borrower to put up any collateral (or security) to get money.

Cash Loan Bad Credit Options

It can be very difficult to have a lower credit score. Heck, some people are even having tough times getting hired by certain companies because of their credit scores. Needless to say, banks don’t even want to talk to people who have bad credit about loans. Fortunately, you don’t need the local bank manager involved to get an online cash loan. Your credit score does not matter to online lending companies. You do not have to submit a credit check for loan approval.

debt-consolidation-loan.gifGetting a Cash Loan after/during a Divorce

People often ask if they can get a loan after a divorce. Your marital status, like your credit score, does not come into play when you submit your online loan application. You will never be denied a loan simply because you have had relationship issues. Married, separated, single or divorced – your personal romantic status won’t stop you from getting a loan.

How Often Can You Get an Online Cash Loan?

Do not apply for a payday loan if you have not yet paid off the loan you already have open. You don’t want to get yourself in a situation where you have borrowed too much money at any one time. It’s always in your best interest to have a loan paid off prior to requesting another loan.

The Best Short Term Loans Available

Our network of online lenders are always working hard to provide their clients with the best payday loans online. You can rest assured that you will get offers only from the most experienced lenders in the industry.

Make sure you work with a Reliable Online Lending Company

You’ll have no worries about the lender you choose when you use this website’s application to request your loan. Don’t trust your financial needs to any lender outside of our exclusive lending network.

Making Quick Work of the Loan Application Process

From start to finish you’ll find that it’s fast and easy to apply for your loan. You’ll spend probably less than five minutes to get the application completed. There aren’t multiple forms to deal with and red tape is non-existent when you take out a payday loan online.

Be Ready for Fast Cash Loan Approvals

After you submit your request, be sure to keep an eye on your email account. You should get a relatively fast approval notification from your lender.

How Long Until You Get Your Cash?

After you get that email notification, you will more than likely get your loan money one business day later. You may even get lucky and receive your cash about 24 hours after you apply online.

Automated Payments are Convenient

Since you don’t have to send a check to pay for your loan, you don’t have to worry about your payment arriving late. Your loan is fully paid by an automatic bank account deduction. It’s just like any other automated bill payment solution that you might already be familiar with.

How to Avoid Excessive Loan Fees

It should be obvious that you’ll have to pay additional fees if you don’t pay your loan back on the originally agreed upon date. Be sure that you avoid filling for loan extensions to save yourself some cash. We want all of our loyal website visitors to get their loans without forking over any more fee payments than are absolutely necessary. And since we’re pretty sure you like saving money too, we know that you’ll do your best to avoid asking your lender for an extension on your loan.

No More Cash Shortage Emergencies

Won’t it feel great to have a surplus in your account instead of going completely broke? You can use your loan money to take care of those nagging expenses without fear that you’ll completely drain your bank account in the process. Far too many people end up stressed out about short term money issues. When you realize how online loans can ease the burden a bit, it becomes much easier to eliminate some of the financial stress in your life.

The Last Word on Getting Your Online Cash Loan

This article was put together with the intention of helping you to feel informed, comfortable and empowered when you make the final decision about taking out an online cash loan. We do hope that you’ve learned all about payday loans and know the exact steps that you need to take when you have to get some cash in hand before your next pay day. You can even take action and get started right this minute. Use our handy online application to move forward. It’s the first step you’ll take on your easy journey to receiving the emergency cash you are currently in need of.